Israeli company TIPA Sustainable Packaging has raised $11 million in a series B financing round led by Austin and Gabriela Hearst, owners of the Hearst Corporation together with existing TIPA investors GreenSoil Investments and Horizons Ventures .
The new investment round will enable the Hod Hasharon company to expand its sales in new countries and further develop new generations of its unique packaging solutions for a wider variety of food and non-food goods. TIPA develops and manufactures breakthrough bio-based, fully compostable, flexible packaging.
“We have been extremely impressed by the products and the team at TIPA. The company has developed and introduced to the market revolutionary packaging solutions that are both biodegradable and compostable. We are pleased to have led this round, which will provide the capital to help TIPA further establish its leading position in this market sector,” said Austin Hearst.
In comparison to regular plastic packaging which lasts for hundreds of years, TIPA’s packaging will decompose within just 180 days in compost conditions.
TIPA’s packaging solutions emulate the robust properties of conventional plastic, while allowing complete biodegradability of packages after use. Its solutions include compostable packaging for foods such as: snack food, confectionary, grains, dried foods, vitamins and coffee. Other packaging solutions for non-food categories include: apparel packaging, zipper bags and stand-up pouches.
The company was founded by Daphna Nissenbaum and Tal Neuman and its products are currently available in the US, France, England and the Netherlands.
Published by Globes [online], Israel business news - www.globes-online.com - on October 24, 2017
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